Union Labor Life Insurance Company

The Union Labor Life Insurance Company, also known as Ullico Inc., is a privately held insurance and financial services holding company based in Washington, D.C. It was founded in 1927 by the American Federation of Labor and its then president, Samuel Gompers, with the aim of offering health and life insurance products specifically to working men and women. The company’s first president was Matthew Woll, president of the Photo Engravers Union. Ullico is one of the largest insurance and investment services companies for trade union members in the United States. The company’s mission is to provide financial security to union members and their families. It offers specialty insurance and investment products to labor organizations, union employers, municipalities and institutional investors, as well as union members and retirees. As of 2009, the company insured more than two million union members and dependents through $25 billion in Life, Accidental Death and Dismemberment insurance. Furthermore, more than six million members were served through $125 million in gross written Property and Casualty premiums. Ullico had $5.5 billion in assets and a consolidated GAAP Equity of nearly $240 million.